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Pentagon Awards $99 Million for U.S. Navy Ship Upgrades, Repairs, Planning

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After taking Monday off, the acquisitions clerks at the Department of Defense got back to work Tuesday, awarding a total of 20 separate defense contracts worth $618.4 million combined. The bulk of these contracts concerned funding for U.S. Navy projects. Among the publicly traded companies winning such contracts:

  • General Dynamics' (NYSE: GD  ) National Steel and Shipbuilding Co. subsidiary was awarded a $62.6 million contract modification to perform maintenance and upgrades work on the amphibious assault ship USS Pearl Harbor (LSD 52) while it is in drydock through July 2015.
  • BAE Systems (NASDAQOTH: BAESY  ) (LSE: BA  ) was awarded a $27.4 million contract modification to perform various ship repairs and alterations to hulls, machinery, piping, and electrical systems and electronics as required through October.
  • Huntington Ingalls (NYSE: HII  ) was awarded an "undefinitized contract action" (essentially, an order to begin work with the price to be determined later) worth up to $8.6 million. Huntington will perform life-cycle management engineering work on the propulsion plants for Nimitz-class (CVN 68) nuclear aircraft carriers. Expected to run through at least March 2015, this contract action includes the possibility of extension (and additional funding) in the event "options" for further work are exercised. 

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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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